A Two-Word Definition

At the urging of a close and trusted technology mentor - my 14-year old son - I decided to start blogging, an activity which sounds violent but is, in actuality, a great way to express one's thoughts via writing. Since my thoughts are few, the creation of a "blog" limited to just 500 words seemed the perfect vehicle for sharing my observations on the economy of North Brevard, and on the often exotic and dangerous world of economic development. Or was that the world of Formula One racing? Well, whatever. Let it begin.

So, just what is economic development? It's a question I get asked frequently, along with "didn't you see that Stop sign?" Essentially, economic development is about creating wealth, both individually (for an entrepreneur) and aggregately (for a community). It's not necessarily about creating jobs, but that is often the outcome of a business venture that succeeds in creating wealth. In order to reach that benchmark, a business enterprise needs resources, which includes people, capital, and technology. If, based upon the application of those resources, the enterprise can deliver a good or service that results in revenue exceeding costs, the differential will be wealth. And wealth is what helps to build roads, fund schools, and maintain public beaches, to name just a few benefits.

Most communities seek enterprises that will create wealth, and that's certainly the case with North Brevard. But where we differ are the unique tools we have to bring your project to fruition. So if you have a business that is considering expanding or re-locating, we'd like to talk to you about creating wealth. Or perhaps the world of Formula One racing.

See you next time!

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